LIONCOURT Homes, a British housebuilder backed by Irish investors Michael Tunney and David Andrews, made an £8m (€11m) operating profit in the year to the end of March, after selling two sites for £21m.
Revenues at the company hit £40.1m, up from £11.6m the previous year, when it made £1.1m profit. Lioncourt said it completed 95 homes in the year and secured five new development sites with potential for 229 homes.
The company increased its borrowing facility with HSBC to £30m last month, giving it firepower for expansion. It also raised £4.3m in equity investment from new and existing shareholders last December